The Money Talk
Talking about money is oftentimes tricky yet necessary, especially with our children. So as parents, we often wonder, ‘how are we going to teach our children about money?’ (See also: how do we teach our kids about social media?)
And money coach Chelsea’s answer is, “the first step is you have to deal with your own money first before you teach your kids.” Because most of the time, our decisions around money are influenced by our own upbringing, fears, and other deep-seated values that we need to unpack.
Now that we are adults who have our own families, we have to reevaluate how we handle money depending on our current values and situation. And we also have to be flexible in guiding our kids about money. Because they have their own unique personalities and values, they will develop their own habits around money. (For example, if you notice that your kid is a hoarder, you can teach them how to responsibly spend from time to time.)
Changing our language around money
Most of the time, we talk to our kids that ‘they can’t have this and that’ because we are concerned about scarcity. But a better approach is to show our kids that money is a constant evolution and learning. We can teach our kids that they can get what they want, but they can’t get everything they want. That they have to make priorities and choices when it comes to money.
Join us in this episode to learn tips on how we can have the “money talk” with our family!
Other life-changing lessons in this episode…
- How to create your family money values
- Better way to talk money with your spouse
- Age-appropriate money practices we can teach our kids
- Incorporating money habits with our social values
- Creating a money journal
“Write all the ways you’ve won about money then create small habits that could improve those wins.” – Chelsea Brennan
We have to understand that money touches almost everything that we do. So we have to learn and teach our kids that money is a journey that we align with our values and thus, decisions.
Chelsea is the founder of Smart Money Mamas and its monthly membership community, the Motivated Mama Society. An ex-hedge fund manager turned financial educator, she is dedicated to changing the way we talk about money, helping moms connect with all aspects of their money in a way that lets them overcome emotional blocks, identify what they most want, and create the healthy money habits that help them achieve their biggest goals. All while modeling positive money relationships for the next generation. Chelsea lives in Connecticut with her husband (a rockstar stay-at-home dad) and two young and energetic boys.
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